B. Riley Trims Malibu Boats (NASDAQ:MBUU) Target Price to $39.00

Malibu Boats (NASDAQ:MBUU) had its price target reduced by B. Riley from $45.00 to $39.00 in a research report sent to investors on Tuesday morning, Benzinga reports. B. Riley currently has a neutral rating on the stock.

A number of other research analysts have also issued reports on the company. KeyCorp reduced their price objective on Malibu Boats from $58.00 to $50.00 and set an overweight rating for the company in a research report on Wednesday, January 31st. Truist Financial reduced their price objective on Malibu Boats from $62.00 to $52.00 and set a buy rating for the company in a research report on Wednesday, January 31st. Robert W. Baird restated an outperform rating and set a $54.00 price objective on shares of Malibu Boats in a research report on Friday, January 19th. StockNews.com upgraded Malibu Boats from a sell rating to a hold rating in a research report on Monday, February 26th. Finally, Raymond James lowered Malibu Boats from an outperform rating to a market perform rating in a research report on Monday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Malibu Boats presently has an average rating of Hold and an average target price of $49.00.

Malibu Boats Price Performance

Shares of MBUU opened at $34.16 on Tuesday. The firm has a market cap of $697.89 million, a price-to-earnings ratio of 10.95 and a beta of 1.37. The stock has a 50 day moving average of $42.41 and a 200-day moving average of $46.45. The company has a current ratio of 1.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. Malibu Boats has a 52 week low of $33.78 and a 52 week high of $62.36.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.47 by $0.10. The company had revenue of $211.07 million during the quarter, compared to analyst estimates of $219.64 million. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. The business’s revenue was down 37.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 EPS. As a group, analysts forecast that Malibu Boats will post 2.55 EPS for the current year.

Insiders Place Their Bets

In other Malibu Boats news, insider Michael K. Hooks purchased 12,500 shares of Malibu Boats stock in a transaction on Thursday, February 22nd. The stock was bought at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the transaction, the insider now owns 12,500 shares of the company’s stock, valued at approximately $535,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.62% of the stock is currently owned by insiders.

Institutional Trading of Malibu Boats

A number of hedge funds and other institutional investors have recently modified their holdings of MBUU. IFP Advisors Inc bought a new stake in shares of Malibu Boats in the 3rd quarter worth $25,000. Quarry LP bought a new stake in shares of Malibu Boats in the 2nd quarter worth $25,000. Public Employees Retirement System of Ohio raised its stake in shares of Malibu Boats by 44.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company’s stock worth $27,000 after buying an additional 173 shares in the last quarter. Comerica Bank bought a new stake in shares of Malibu Boats in the 3rd quarter worth $27,000. Finally, Ensign Peak Advisors Inc bought a new stake in shares of Malibu Boats in the 3rd quarter worth $29,000. Institutional investors own 91.35% of the company’s stock.

Malibu Boats Company Profile

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.